The National Statistical Committee has presented data on Kyrgyzstan's foreign trade for January-March of this year, with the import volume remaining high.
During the first quarter of 2024, the volume of imported goods exceeded their exports by six times. Export deliveries are mainly driven by the sale of gold to other countries, a trend that was established last year and continues today. Among the imported goods that the Kyrgyz Republic prefers, there have been no significant changes. The country continues to actively purchase passenger cars and dishwashers.
However, unlike in 2023 when the majority of purchased cars and household goods were exported, currently, very few of these goods are being sold abroad. It appears that our republic has decided to significantly renew its vehicle fleet.
How Kyrgyzstan Traded
- Foreign trade turnover of Kyrgyzstan for January-March 2024 reached $3,723.9 million, which is 29.8% higher than the 2023 figure. Export amounted to $510.9 million (a 12.8% increase), while import reached $3,213 million (a 33% increase).
- With the EAEU countries, the country traded $868.5 million.
Export Relies on Gold
From January to March 2024, Kyrgyzstan exported 2.1 tons of precious metal. Interestingly, while in previous months almost all gold was exported to Switzerland, now the leader is Hong Kong (China). The top five main export goods remain unchanged for the second year in a row:
- Gold;
- Ores and concentrates of precious metals;
- Petroleum products;
- Copper scrap and waste;
- Communication equipment.
However, some items have disappeared from the list, such as passenger cars, which were actively sold to other countries throughout 2023. While car exports have not stopped completely, the volumes have decreased. In the first quarter, the country exported them for $7.3 million. On the other hand, new items have appeared, with Kyrgyzstan actively trading in some surprising positions, like curtains and drapes.
Passenger Cars and Dishwashers Leading in Imports
The import leader remains passenger cars, accounting for 28.3% of the total volume in value terms. From January to March 2024, 50.4 thousand units were imported for $911 million, with 63.7% of the supplies coming from China. Car deliveries from China for the first three months of this year increased by 13.6 times compared to 2023. Additionally, 32.1 thousand cars were imported from China for $552.8 million. Another 8 thousand cars worth $66.5 million were imported from South Korea. Despite gradually decreasing exports to other countries, Kyrgyzstan continues to increase car imports.
Dishwashing machines remain in second place in terms of import volumes. For the third year, the country has been actively purchasing them. From January to March 2024, Kyrgyzstan imported 52.6 thousand tons of dishwashers for $509.4 million.
Conclusion
Traditionally, among the goods that Kyrgyzstan imports, petroleum products and medicines are the most common. Sewing machines have re-entered the top ten, actively imported by the Kyrgyz Republic last year. Import volumes of communication equipment remain high, leading in both import and export deliveries. This situation suggests the possibility of re-exporting these goods.
Regarding the sources of goods supplied to Kyrgyzstan, China is the main contributor, accounting for over half of the import volume. In total, Kyrgyzstan imported goods from 128 countries in the first three months of this year, including some quite distant countries like Sierra Leone, Panama, San Marino, Honduras, and Ethiopia.
